Section 18: Rate of interest payable by the promoter and the allottee

Tamil Nadu Real Estate (Regulation and Development) Rules, 2017 2017State Rules of Tamil Nadu · 2016

The rate of interest payable by the promoter to the allottee or by the allottee to the promoter, as the case may 14 be, shall be the State Bank of India highest Marginal Cost of Lending Rate plus two per cent:

Provided that in case the State Bank of India Marginal Cost of Lending Rate is not in use it would be replaced by such benchmark lending rates which the State Bank of India may fix from time to time for lending to the general public.

Where this provision sits

Act	Tamil Nadu Real Estate (Regulation and Development) Rules, 2017 2017
Section	18
Marginal note	Rate of interest payable by the promoter and the allottee
Jurisdiction	State of Tamil Nadu
Status	In force as published by the source

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